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Central Apartments 574 3rd St 104 Unit Apartment Building For Sale San Francisco, CA 94107
Investment Highlights
- San Francisco Rent Growth Leads The Nation and is Expected to Continue Its Upward Trajectory for the Foreseeable Future
- Extraordinary Rental Income & Operational Upside Potential
- Center Of San Francisco’s Technology & AI Revival
- Rare Value-Add Opportunity Of Scale In San Francisco’s SoMa District
- Acquire Below Replacement Cost At An Attractive Basis - Under $200,000 Per Unit
- Connected to the Entire Bay Area - CalTrain, Muni, SFMTA Bus Stops, SF Ferry System, I-80 Access
Executive Summary
Offers Due Thursday, August 13th
Property Tours Are Available by Appointment - Reach out to the Listing Team to gain access to the Virtual Deal Room or Schedule a Property Tour
Cushman & Wakefield, Inc., as exclusive advisor, is pleased to present the opportunity to acquire The Central Apartments, a 1907 vintage, 104-unit apartment community located in the South of Market District (SoMa) of San Francisco, California. The asset offers a rare convergence of an attractive entry basis far below replacement cost ($195,000 per unit), embedded NOI upside, and durable market fundamentals in the nation's leading rent growth market, positioning it to deliver outsized, risk-adjusted returns. As San Francisco continues to solidify its position as the global epicenter for artificial intelligence and technology growth, SoMa remains the focal point for high-wage tech talent, driving robust, long-term demand for well-connected housing.
The Property offers a unique blend of historic charm and modern conveniences with an efficient mix of 78 studios, 24 one-bedroom units, and 2 two-bedroom units. Representing one of the largest vintage apartment communities in SoMa, The Central Apartments provides extraordinary rental income and operational upside potential.
Connectivity across the entire Bay Area is seamless via all major modes of transportation: CalTrain (San Francisco Station - 7 min walk), Muni (4th & Brannan - 3 min walk), BART (Montgomery Station - 19 min walk), SFMTA bus stops (3rd & Brannan - 3 min walk), San Francisco Ferry System (Pier 40 - 10 min walk), and immediate freeway access (I-80 - 4 min drive).
The Property is exceptionally walkable to SoMa's top attractions and employment hubs, including South Park, Oracle Park, The Embarcadero, the Financial District, Salesforce Park and Transit Center, Mission Rock, Chase Center & Thrive City, Crane Cove Park, the Ferry Building, and the Moscone Center. With the high cost of homeownership across San Francisco reinforcing a deep, persistent renter pool, The Central Apartments is ideally positioned to capture durable occupancy and long-term rent growth.
Property Tours Are Available by Appointment - Reach out to the Listing Team to gain access to the Virtual Deal Room or Schedule a Property Tour
Cushman & Wakefield, Inc., as exclusive advisor, is pleased to present the opportunity to acquire The Central Apartments, a 1907 vintage, 104-unit apartment community located in the South of Market District (SoMa) of San Francisco, California. The asset offers a rare convergence of an attractive entry basis far below replacement cost ($195,000 per unit), embedded NOI upside, and durable market fundamentals in the nation's leading rent growth market, positioning it to deliver outsized, risk-adjusted returns. As San Francisco continues to solidify its position as the global epicenter for artificial intelligence and technology growth, SoMa remains the focal point for high-wage tech talent, driving robust, long-term demand for well-connected housing.
The Property offers a unique blend of historic charm and modern conveniences with an efficient mix of 78 studios, 24 one-bedroom units, and 2 two-bedroom units. Representing one of the largest vintage apartment communities in SoMa, The Central Apartments provides extraordinary rental income and operational upside potential.
Connectivity across the entire Bay Area is seamless via all major modes of transportation: CalTrain (San Francisco Station - 7 min walk), Muni (4th & Brannan - 3 min walk), BART (Montgomery Station - 19 min walk), SFMTA bus stops (3rd & Brannan - 3 min walk), San Francisco Ferry System (Pier 40 - 10 min walk), and immediate freeway access (I-80 - 4 min drive).
The Property is exceptionally walkable to SoMa's top attractions and employment hubs, including South Park, Oracle Park, The Embarcadero, the Financial District, Salesforce Park and Transit Center, Mission Rock, Chase Center & Thrive City, Crane Cove Park, the Ferry Building, and the Moscone Center. With the high cost of homeownership across San Francisco reinforcing a deep, persistent renter pool, The Central Apartments is ideally positioned to capture durable occupancy and long-term rent growth.
Property Facts
| Sale Type | Investment | Lot Size | 0.50 AC |
| No. Units | 104 | Building Size | 58,530 SF |
| Property Type | Multifamily | Average Occupancy | 91% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1907 |
| Building Class | B |
| Sale Type | Investment |
| No. Units | 104 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.50 AC |
| Building Size | 58,530 SF |
| Average Occupancy | 91% |
| No. Stories | 3 |
| Year Built | 1907 |
Amenities
Unit Amenities
- Cable Ready
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Double Pane Windows
- Intercom
- Vinyl Flooring
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Gas Range
- Recycling
- Vintage Building
- Bicycle Storage
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 78 | - | 329 |
| 1+1 | 24 | - | 444 |
| 2+1 | 2 | - | 462 |
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Exceptionally walkable
90/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 3776-008 | Improvements Assessment | $669,903 |
| Land Assessment | $274,659 | Total Assessment | $980,697 |
Property Taxes
Parcel Number
3776-008
Land Assessment
$274,659
Improvements Assessment
$669,903
Total Assessment
$980,697
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